ECONOMY

Conference on “European Emergencies, from Banks to Brexit” with welfare institute INPS President Tito Boeri in Milan (0730 GMT).

COMPANIES

TELECOM ITALIA

TIM said on Tuesday its board backed a decision to appeal a ruling by the Italian market watchdog that stated French group Vivendi has de facto control over the phone company. (*) Infrastructure fund F2i is interested in buying Telecom Italia’s Sparkle unit, MF said, citing a source with knowledge of the matter. (*) If Italy decides to use the so-called ‘golden power’ in the Telecom Italia-Vivendi case, it would not be in a vindicative or nationalistic way, but in a balanced and moderate manner, Industry Minister Carlo Calenda said in an interview with Corriere della Sera. (*) According to la Repubblica, Amos Genish is seeking to position Telecom Italia more towards the premium segment to give it an edge in quality, especially given the pending arrival of new low-cost rival Iliad.

(*) GENERALI, MEDIOBANCA

Mediobanca is studying a plan B for its stake in Generali, under which it could put the 13 percent holding in a separate vehicle, in which other players would invest as well, Il Sole 24 Ore said. Mediobanca would remain the newco’s controlling shareholder with at least a 51 percent stake, the paper said, adding that this plan was an alternative to the investment bank’s long intention to reduce its holding in the insurer to 10 percent.

FIAT CHRYSLER

Fiat Chrysler said Tuesday it will recall 494,000 medium and heavy-duty Ram pickup trucks worldwide because of a water pump that could overheat and potentially cause a fire.

(*) UNICREDIT

A draft proposal for the reform of the bank’s governance will be examined by the board on Thursday, Il Sole 24 Ore said.

(*) CERVED

Cerved and Banba Popolare di Pari have agreed on a partnership to manage the lender’s non-performing loans and unlikely to pay exposures.

(*) BANCO BPM

Adviser KPMG will gather on Sept. 27 binding bids from the four insurance groups looking to become the Italian bank’s new bancassurance partner, MF reported, adding Banco BPM’s board was expected to discuss the matter at a meeting on Oct. 17. The paper said there was still a chance Zurich may be back in the race next to Cattolica, Generali, Covea and Allianz.

(*) LEONARDO

New CEO Alessandro Profumo will present the group’s new business plan at the end of January aiming to raise total orders above the 2017 goal of 12-12.5 billion euros, MF reported.

(*) MONDADORI

The publishing group has reorganised its operations in an effort to cut costs, MF reported.

(*) FINCANTIERI

Italy wants to find a solution to the dispute with France over the blocked takeover of STX shipyard by Italy’s Fincantieri, but not at all costs, Industry Minister Carlo Calenda reiterated in an interview with Corriere della Sera. He added that he believed an agreement was possible.

CEMENTIR

Italy’s third-largest cement maker Cementir Holding has agreed to sell its domestic assets to Italcementi, owned by Germany’s HeidelbergCement, it said on Tuesday.

ATLANTIA

Atlantia motorway unit Autostrade per l‘Italia said on Tuesday it had bought back four bonds for a total amount of 522.6 million euros.

GRUPPO TREVI

Bond holders’ meeting (0900 GMT).

INTEK GROUP

Board meeting on H1 results.

TISCALI

Board meeting on H1 results.

(*) M&A, BANCA INTERMOBILIARE (BIM)

Investment funds Attestor and Barents Re are expected to submit a new offer for BIM by the end of this week, Il Messaggero said, adding that the objective was to raise the valuation compared to previous proposals.